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Morning MarketBeat: Armistice

By

Mark Gongloff

Nov 11, 2011 6:57 am ET

Pre-Market Brief:

Market tone: Stocks are called to open slightly higher on euro zone political progress; euro range bound against the dollar in thin trade; Treasurys slightly lower; Nymex crude slightly higher at $98.15; gold up at $1,765.40.

Overnight action: Asian stocks end higher and European bourses gain on relief over political developments in Italy and Greece. BP claims victory in Russian case; S&P rattles investors after erroneous alert on France.

Watch for: University of Michigan Survey of Consumers; Government offices and bond markets closed for Veterans Day.

The Breakfast Briefing

After a brutal selloff, the market was due for a bounce, and it got one yesterday.

The Dow rose 112.92 to 11893.86. The S&P 500 rose 0.9% to 1239.70. The Nasdaq lagged the rest of the market, rising just 0.1% to 2625.15, as Apple shares fell nearly 3% on chatter of slowdowns in iPad and iPhone construction.